Financial Daily
from THE HINDU group of publications
Friday, October 19, 2001
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Financial Daily from THE HINDU group of publications Friday, October 19, 2001 |
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BPCL/HPCL: Transient gains
THERE could be some near-term gains in the two oil refining Bharat Petroleum Corporation Ltd and Hindustan Petroleum Corporation Ltd following the Government's decision to go in for strategic sale of their equity before the end of this fiscal.
The two stocks were marginally up in Thursday's trading. But the gains may not be sustained if earlier trends in PSU stocks up for divestment are any indication. For various reasons, these stocks shed value once the process gained momentum. If the trend
continues, the stocks of BPCL and HPCL may fall to lower levels. -- BL Research Bureau
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